Bitcoin Forum

Hi,

Very new here, just made a wallet at coinbase because I don't know how else to get a bitcoin address?

What should I do next?

Heya kadyl!!
You can use blockchain.info as well to get wallet addresses.Next step you can do is buy some bitcoins and invest it in altcoins(Get some info on altcoins from altcoin sub-section) Hope this helps you!!  :)

Get some bitcoins, lol! :D

You should avoid web based wallets, I recommend MultiBit for a quick start! :)
Remember that if you're not the only one with access your private keys, you don't have any bitcoin.

I have around $1200 kept aside just for that and as soon as I understand whatever there is to understand about Bitcoins I will.

I have made another wallet at blockchain.info.
I'll look into multibit now. Private keys means password right?

Thanks

Yes, Blockchain is the main site actually to deal with! Next you should read what is cloud wallet , mining (if you want to mine the coins) and you should read some press to know about present situation in BTC world!
And, finally, welcome and good luck! Buy and sell ! enjoy bitcoins  ;)

No, the private key is essentially the wallet. It is the unique code that contains your money and address. If someone else have it, they can do whatever they want with the funds on it.

Still, you should avoid web based wallets completely. You should be the only one with access.

welcome to bitcointalk

hi

I see, so you mean the wallet that I made at the blockchain which has a private key and a password  but still someone could access it without the password and it's not safe. I'll find out more of the alternatives, thanks so much!

I have no idea what I am going to do after I buy some Bitcoins and I don't know if I'll mine (don't even know right now what exactly it is, I tried understanding about it but couldn't understand a single thing) but I'll think about that when the time comes, right now I am more concerned about getting to know the basics and doing everything right, step by step.

Hello and welcome my friend! Be kind to other people.

kadyl, welcome to bitcointalk.
You could use other wallets such as Multibit, Electrum, blockchain.info etc.

Don't forget to enable 2FA.


Please make sure you fully understand how the "mining difficulty" works before trying to mine. Also, check a profit calculator before buying any hardware / cloud mining hashrate.

Hello! Have a good stay and I hope you will enjoy staying here. :)

Essentially, yes. If someone breaks that encryption (the password) they can do whatever they want with the money (the private keys). So for example, someone hacks Blockchain and you run your wallet there, they could get the unencrypted private keys. Therefore you should only run your wallet on your computer so you're the only one with access to it.

I'm afraid I'm not the right person to explain mining to you. It's a kinda difficult concept and I don't understand it on a deeper level! :(
But essentially your computer solves problems in a block and if you're the first to solve the block you get a reward (25BTC). You could also earn a little extra from transaction fees, since transactions are forwarded through those blocks.
Sorry if I just made it even more unclear lol.

Hello,

New here too and to bitcoins also. I have an account with coinbase, but from what I gather that's not recommended? Should I be using the bitcoin core program instead?

Not necessarily Bitcoin Core, it takes a long time to sync with the network. Try Multibit instead, it's quick and easy to use.
That way you're the only one with your private keys.

This is the best time to buy if you are thinking about investing in btc! Prices aren't gonna go any lower in my opinion. :)

yeah  like Acid says this is the only time u gonna get lower cheap bitcoins,  when the trend heals, then boom we go.

+1.
If you don't have the private keys, you don't have the bitcoin.  ;D

+100 Jump in now if you want to catch the boat.

welcome!